STRIPPED BOND Definition

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STRIPPED BOND is a bond that can be subdivided into a series of zero-coupon bonds.

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FOB DESTINATION is where the seller retains title and control of goods until they are delivered and the contract of carriage has been completed. The seller selects the carrier and is responsible for the risk of transportation.

NEGATIVE CONFIRMATION REQUEST, in accounting, in the negative form of accounts receivable confirmation asks the client's customer to respond only if the customer disagrees with the balance determined by the client. The positive form asks the customer to respond whether the customer agrees or disagrees with the client's receivable balance. The negative form is used when controls over receivables are strong and accounts receivable consists of many accounts with small balances. The positive form is used when controls are weak or there are fewer, but larger, accounts. See Positive Confirmation.

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